You would enter the entire cost of the truck and base it on payment made. When you make payments throughout the year, it is not an expense. The interest portion is an expense but you would have capitalized the entire Truck purchase at once. Had you already received the car, you would have just entered the $130000.
You have an LLC or sole prop so there is no balance sheet. If there were, you would be a loan payable account that would offset the remaining amount you owed.
